Avitas Wealth Management LLC Has $3.48 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Avitas Wealth Management LLC reduced its stake in AbbVie Inc. (NYSE:ABBV) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,607 shares of the company’s stock after selling 211 shares during the quarter. Avitas Wealth Management LLC’s holdings in AbbVie were worth $3,484,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Tanager Wealth Management LLP grew its holdings in AbbVie by 20.5% during the 4th quarter. Tanager Wealth Management LLP now owns 3,507 shares of the company’s stock worth $623,000 after acquiring an additional 596 shares during the period. James J. Burns & Company LLC boosted its position in shares of AbbVie by 29.0% during the 4th quarter. James J. Burns & Company LLC now owns 1,766 shares of the company’s stock valued at $313,000 after purchasing an additional 397 shares in the last quarter. Mather Group LLC. boosted its position in shares of AbbVie by 3.3% during the 4th quarter. Mather Group LLC. now owns 29,734 shares of the company’s stock valued at $5,284,000 after purchasing an additional 950 shares in the last quarter. Stephens Consulting LLC increased its holdings in AbbVie by 41.6% in the fourth quarter. Stephens Consulting LLC now owns 2,461 shares of the company’s stock worth $437,000 after purchasing an additional 723 shares in the last quarter. Finally, Welch Group LLC increased its holdings in AbbVie by 1.2% in the fourth quarter. Welch Group LLC now owns 364,516 shares of the company’s stock worth $64,228,000 after purchasing an additional 4,317 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Down 0.1 %

ABBV opened at $189.97 on Wednesday. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The firm has a market capitalization of $335.71 billion, a P/E ratio of 79.16, a PEG ratio of 1.84 and a beta of 0.58. The company’s 50-day moving average is $176.84 and its 200 day moving average is $185.26. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same quarter in the prior year, the firm posted $2.79 EPS. Research analysts expect that AbbVie Inc. will post 12.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ABBV. JPMorgan Chase & Co. reduced their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. BMO Capital Markets raised their price target on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a report on Thursday, December 5th. Sanford C. Bernstein began coverage on AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price for the company. Finally, Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.